Pirelli, Hankook bid for F1 contract; Michelin opts out

Paris — Pirelli Tyre and Hankook Tire Co. Ltd. have submitted bids to the Federation International de l’Automobile (FIA) to be the race tire supplier for Formula 1 racing for the 2020-23 seasons.

Separately, Michelin Motorsport said it considered submitting a bid but opted not to because certain aspects of the FIA’s tender go against the firm’s “principles of efficient resource management and respect for the technology of a sustainable tire.”

The FIA earlier said it expects to decide as to the technical and safety merits of…

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